Barclays Cuts Element Fleet Management (TSE:EFN) Price Target to C$17.00

Element Fleet Management (TSE:EFNGet Rating) had its price target reduced by Barclays from C$19.00 to C$17.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Other analysts have also issued reports about the company. Royal Bank of Canada raised their target price on Element Fleet Management from C$17.00 to C$18.00 and gave the company an outperform rating in a research note on Wednesday, March 2nd. TD Securities raised their target price on Element Fleet Management from C$12.50 to C$13.00 and gave the company a hold rating in a research note on Tuesday. Raymond James raised their target price on Element Fleet Management from C$13.25 to C$14.00 and gave the company a market perform rating in a research note on Tuesday. BMO Capital Markets lowered their target price on Element Fleet Management from C$14.50 to C$13.50 in a research note on Tuesday. Finally, National Bankshares lifted their price objective on Element Fleet Management from C$19.00 to C$20.00 and gave the stock an outperform rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of C$16.15.

Shares of TSE EFN opened at C$13.03 on Wednesday. The stock has a market cap of C$5.19 billion and a PE ratio of 17.35. The business has a fifty day moving average of C$11.93 and a two-hundred day moving average of C$12.58. Element Fleet Management has a 52-week low of C$10.99 and a 52-week high of C$15.12. The company has a debt-to-equity ratio of 240.50, a quick ratio of 6.57 and a current ratio of 6.91.

Element Fleet Management (TSE:EFNGet Rating) last announced its earnings results on Tuesday, March 1st. The financial services provider reported C$0.21 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.19 by C$0.02. The business had revenue of C$245.48 million during the quarter, compared to analyst estimates of C$237.00 million. Analysts predict that Element Fleet Management will post 1.03 earnings per share for the current year.

In other news, Senior Officer James Halliday sold 41,667 shares of the business’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of C$12.65, for a total transaction of C$527,087.55. Following the completion of the transaction, the insider now directly owns 85,001 shares in the company, valued at approximately C$1,075,262.65.

Element Fleet Management Company Profile (Get Rating)

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, the United States, Mexico, Australia, and New Zealand. The company offers fleet management services comprising vehicle acquisition, financing, program management, and remarketing services to corporate, commercial, government, and public service vehicle fleets.

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